Baytex - Nice Quarter - Waiting for a full combined Greetings, and Yes, I am still here in the shadows.
On the merger related share price fall, which was enhanced by seasonality, the owners of Ranger probably saw what most everybody knows - the company being acquired goes up, and the acquiring company goes down. Baytex and Ranger shareholders were no different. Ranger holders saw this coming, and sold into strength, while Baytex holders hedged or sold, and waited for news and details to be confirmed before taking a new position, which is probably still a work in progress at this time.
I know many on this board already know this, though new people need to hear it.
I am still waiting for Q3 and the combined numbers for a full quarter to get on board with this merger, though I am feeling better about it. My opinion is that institutions will want to see at least two combined quarters before they have conviction.
Red's institutional holdings posts were encouraging and appreciated.
Back to the shadows for me. I am busier than ever these days.
RS